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Trade liberalisation, governance, and the balance of payments: evidence from the Arab Maghreb Union

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  • Abduraawf Hadili
  • Roman Raab
  • Jan Wenzelburger

Abstract

This paper explores the impact of trade liberalisation on the economies of the Arab Maghreb Union (AMU) as they attempt to reform their economies by liberalising trade with other nations in order to promote growth and increase welfare. We investigate the time period from 1995 to 2009 in terms of export growth, import growth, the balance of trade, and the balance of payments by using two different estimation techniques: ordinary least square, and panel-corrected standard-error models. Our empirical evidence shows that trade liberalisation did not enhance export growth in AMU countries during the given period. Trade liberalisation worsened the balance of trade and the balance of payments. Governance indicators turn out to be important factors in order to achieve the intended effects of trade liberalisation.

Suggested Citation

  • Abduraawf Hadili & Roman Raab & Jan Wenzelburger, 2020. "Trade liberalisation, governance, and the balance of payments: evidence from the Arab Maghreb Union," Middle East Development Journal, Taylor & Francis Journals, vol. 12(1), pages 101-130, January.
    • Handle: RePEc:taf:rmdjxx:v:12:y:2020:i:1:p:101-130
    DOI: 10.1080/17938120.2020.1731200
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